The Economist has an excellent article about copyrights, suggesting an overhaul to the current system. Big media companies in the U.S. have recently been successful in extending the copyrights they 'own' far beyond what was originally intended when copyright was invented.

The alternative is to return to the original purpose of copyright, something no national legislature has yet been willing to do. Copyright was originally the grant of a temporary government-supported monopoly on copying a work, not a property right. Its sole purpose was to encourage the circulation of ideas by giving creators and publishers a short-term incentive to disseminate their work. Over the past 50 years, as a result of heavy lobbying by content industries, copyright has grown to such ludicrous proportions that it now often inhibits rather than promotes the circulation of ideas, leaving thousands of old movies, records and books languishing behind a legal barrier. Starting from scratch today, no rational, disinterested lawmaker would agree to copyrights that extend to 70 years after an author's death, now the norm in the developed world.

Digital technologies are not only making it easier to copy all sorts of works, but also sharply reducing the costs of creating or distributing them, and so also reducing the required incentives. The flood of free content on the internet has shown that most creators do not need incentives that stretch across generations. To reward those who can attract a paying audience, and the firms that support them, much shorter copyrights would be enough. The 14-year term of the original 18th-century British and American copyright laws, renewable once, might be a good place to start.